M&A

M&A

Dr Reddy's Labs sells 9 cosmetic derma brands to Eris Lifesciences for Rs. 275-Cr

BSE Announcement,   Mint  

Hyderabad-headquartered Dr. Reddy's Laboratories has sold nine cosmetic dermatology brands to fellow publicly listed and Ahmedabad-based Eris Lifesciences for INR 275 crore. The divested portfolio posted a revenue of INR 61.6 crore in FY22. In January, Eris had acquired nine brands of Glenmark Pharma's dermatology portfolio for INR 340 crore to deepen its presence in the anti-fungal and anti-psoriasis segments.